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Chapter 11 Creditors Opioid

Offit Kurman

2024: Year in Review: Third-Party Releases After Purdue Pharma

Offit Kurman on

The most notable decision in the bankruptcy world in 2024 was the Supreme Court’s decision in Purdue Pharma. Harrington v. Purdue Pharma, L.P., 144 S. Ct. 2071 (2024). At the heart of the fight in Purdue Pharma were...more

Seward & Kissel LLP

The Spirit is Willing, FTX Out, and Planet Spaceball

Seward & Kissel LLP on

Spirit Airlines continues 'constructive talks' with creditors | Reuters - On Tuesday, ultra-low-cost carrier Spirit Airlines announced it’s in constructive talks with its creditors and will continue to seek strategic...more

Fox Rothschild LLP

The Impact of Purdue Pharma

Fox Rothschild LLP on

It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more

Vinson & Elkins LLP

In re Mallinckrodt PLC.: Delaware Bankruptcy Court Approves Non-Consensual Third-Party Releases in Contrast to Purdue and Ascena

Vinson & Elkins LLP on

On February 3, 2022, as part of a series of recent decisions addressing third-party releases, Bankruptcy Judge John T. Dorsey of the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) confirmed the chapter...more

Roetzel & Andress

Third-Party Releases Are Not Consistent with Bankruptcy Code: Creditors Can Still Maintain Direct Claims

Roetzel & Andress on

A federal district court judge in New York has vacated a bankruptcy court’s confirmation of the controversial Chapter 11 plan of Purdue Pharma, LP. The reorganization of Purdue Pharma sought to provide a release of all third...more

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